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16 Mar 2015

Belarus president approves DBRB’s initiatives to support SMEs

MINSK, 16 March (BelTA) – Belarus President Alexander Lukashenko approved of the initiatives of the Development Bank of the Republic of Belarus (DBRB) aimed at supporting small and medium businesses. These initiatives were discussed as Sergei Rumas, DBRB Chairman of the Board, presented his report to the head of state on 16 March, BelTA has learned.

The Belarus president was informed about the Bank’s initiatives concerning support for small and medium businesses. Alexander Lukashenko was interested in what projects had been financed, what businessmen had achieved thanks to the DBRB support. Sergei Rumas said that the program launched by the Development Bank in association with nine other banks to provide loans for small and medium business projects had already produced results. In particular, in 2014 as many as 99 small and medium business projects were financed, with the lending support granted by the Development Bank at Br90 billion. The total value of the projects the borrowers set out to implement was evaluated at Br650 billion. Sergei Rumas remarked that this year commercial banks have already lent Br150 billion. There are plans to provide loans to the tune of Br700 billion to support small and medium businesses within the framework of this program.

The Development Bank of the Republic of Belarus put forward proposals concerning several initiatives meant to support small and medium business and these initiatives were approved by the head of state. Sergei Rumas did not go into details but noted that these projects would be revealed soon.

The Belarus president was interested in the Development Bank’s performance in 2014.

The head of state was informed about export support granted by the Development Bank and its daughter enterprise OAO Promagroleasing. Alexander Lukashenko stressed it was necessary to diversify export and advised against limiting the target markets only to traditional trade partners.

In 2014 assets of the Development Bank of the Republic of Belarus grew by 33% while assets of the banking system increased by 22%. According to Sergei Rumas, the Development Bank is still the leader in terms of profit, consolidated returns, profit per employee, and operation profitability.

The head of state was also informed about the completion of the work meant to leave the Development Bank as the sole coordinator of lending available to government programs. Sergei Rumas said: “We believe that using one economy branch as an example in 2015 we will be able to implement those elements of tender-based selection and tender-based support for the most important projects that are part of government programs”.

Family capital matters were mentioned. The President was told that starting Q2 2015 the Development Bank will begin managing family capital.

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